Here’s a trend projection to what is happening and probably will continue to happen in the upcoming years in sub-sector of tourist accommodation.
1. HOTEL INDUSTRY. While oversupply condemns the Hospitality industry to maintain abnormally low prices in Spain, the development of the hotel sector is at growth level never seen before in Latin America. However, note that some Latin American countries are reaching their growth ceiling, more in the corporative sector that on the business one and more centered around large cities than in untapped tourist destinations. Consistent with our predictions for 2013, Lima and Bogota have been seeing growth in the corporate mid-class segment and the so called “boutique hotel industry.”
Chile is putting a stop (softly) to its economy, while domestic tourism grows with new personal and design hotels. Brazil continues, albeit more politely, its growth to give hospitality to the World Cup and Olympic hype for 2014 and 2016. Among Asian countries we announced last year that Sri Lanka would become a new tiger for tourism. Well, this year the government has announced public and private investments to triple hotel capacity from 2014 to 2016. China continues its growth with the aim to achieve in the next 10 years, 6.3 million beds and a volume of investment close to 100,000 million dollars. As much as they built in the past decade, China’s per capita ratio of hotel rooms (four per 1,000 people) is lower than in the U.S. (20 per 1,000 people). Continue reading
La Provincia newspaper of Las Palmas interviewed me on the occasion of the Sixth Hotel Innovation Conference of “La Ruina Habitada” held from November 18 to 21, 2013 at Nautilus Lanzarote Hotel.
How will customer Big Data analysis revolutionize tourism?
In the immediate future, there will be a change in attracting customers. There will be a difference between the traditional way of attracting a customer-colloquially, casting the fishing line-and how the customer is going to come in upcoming years. Big Data analytics will profoundly change distribution channels because the way of attracting customers will be precisely focused on knowing them. The more you know your customer, the more possibilities you will have to attract him or her to your business.
It will be a new challenge for the tourism industry.
You have to do a serious, costly, ambitious and very technological job of knowing the customer. The most foreseeable way is for this to be done through powerful Big Data analytics. Big Data will enable predictive models which, through tracking customer footprints, everyone and everything will be a sensor. It is predicted that there will be 212 billion connectors on the planet by the year 2020 that will be interrelated without cables through computers and data communication. In that ostentatious amount of data that are going to be managed, the management system will afford an unheard of knowledge of travelers’ movements thanks to data cross referencing. Distribution channels will gradually fall into the hands of purely technological companies that will be the only ones able to face enormous investments in developing Big Data analytics. Continue reading